DIGITAL CURRENCY CAN HAVE MANY IMPLICATIONS

The government of India has Introduced its own central bank digital currency while presented the budget generated for the year 2022-23 .It's a suggestion by the government high level inter - ministerial Committee since 2017 that asked the RBI to form the digital paper currency by way and virtue of which the holders of the central bank digital currency can transfer money digitally instead of handing over the currency notes .The central bank digital currency may be inevitable but the need for RBI is to cover for the all  possible risks and negotiation as such it has implications for the banking system that are not entirely clear to the payment option .The survey conducted by the study of impact assessment realised by the RBI on captioned subject matter deliberation required to be made practical on the six cities during 2017 -18 as per the schedule under retail transactions showed that the digital payments are catching fast track and higher amounting and popular for users stand  as there is no implications for the monetary policy While it has been closely scrutinized one of the Sweden's leading central bank launched since 2017 it is still studying both it's need and potential impact on the economy of Sweden.The Introduced system must be verified slowly on the captioned subject matter deliberation required to be maintained and noticed with a digital retail system during the odd monetary jurisdiction of the system for service by the RBI as the risk is non-negotiable .